Amendment to sec. 2(14) providing aerial distance for determining agricultural land has no retro-effect

IT: Provisions of item (b) of sub-clause (iii) of section 2(14) of 1961 Act which provides for considering distance aerially, not by road, and which have been substituted by Finance Act, 2013 with effect from 1-4-2014 are applicable only for and from assessment year 2014-15 onwards; and, therefore, would operate prospectively and cannot be given retrospective operation

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